Heavy Oil Refinery Launched in Tanzania
Industrial group Kamal of Tanzania
recently launched its TZS10b heavy oil refinery in Tanzania. The factory is
placed in Kamala’s industrial park in Bagamoyo, established under the Special
Economic Zones (SEZ) program. The TZS10b factory will allow Tanzania’s
industries to produce heavy oil locally instead of importing it. Additionally,
the factory will produce automotive lubricants, which Tanzania currently
imports from the United Arab Emirates (UAE) and other countries, according to
Kamal Group’s Chairman, Gagan Gupta. The refinery will have the capacity to
produce approximately 27,000t of oil per year and about 10,000t of lubricant
annually. This will save Tanzania USD15m of its foreign exchange reserves and
at least 200 Tanzanians will be directly and indirectly employed in the
refinery, Gupta explained. Heavy oil demand is not limited to Tanzania, for
which the company will export its products to other neighboring countries, such
as Kenya, DRC, Uganda, and Zambia. Tanzania’s Permanent Secretary in the
Ministry of Industry, Trade and Investment, Dr Adelhelm Meru, said that the
establishment of the refinery is another step toward the country’s
industrialization. He added that the new factory proves the effectiveness of
the combined efforts of the Government and the private sector in achieving Tanzania’s
2025 vision. Tanzania aims to become a semi-industrialized nation by 2025. For
this, the contribution of manufacturing to the national economy must reach a
minimum of 40% of the GDP, Tanzania’s 2025 vision indicates. To achieve this,
Tanzania aims to develop a broad and diverse base of manufacturing, processing
and packaging industries that will lead both the productive as well as the
export trade sector. Foreign Direct Investments (FDIs) are expected to provide
the capital for the desired industrial development. For this, Tanzania launched
its Export Processing Zone Program in 2008. Tanzania’s Export Processing Zones
Authority (EPZA) promotes investments in Tanzania’s Special Economic Zones
(SEZs) and Export Processing Zones (EPZs) by granting investors fiscal and
non-fiscal incentives. Kamal Group originated in India and expanded in Tanzania
and Dubai. The group is involved in Steel, Medical Gases, Agriculture, Mining
and Township Development.
Industrial group Kamal
of Tanzania recently launched its TZS10b heavy oil refinery in Tanzania.
The factory is placed in Kamala’s industrial park in Bagamoyo,
established under the Special Economic Zones (SEZ) program.
The TZS10b factory will allow Tanzania’s industries to produce heavy oil
locally instead of importing it.
Additionally, the factory will produce automotive lubricants, which
Tanzania currently imports from the United Arab Emirates (UAE) and other
countries, according to Kamal Group’s Chairman, Gagan Gupta.
The refinery will have the capacity to produce approximately 27,000t of
oil per year and about 10,000t of lubricant annually.
This will save Tanzania USD15m of its foreign exchange reserves and at
least 200 Tanzanians will be directly and indirectly employed in the
refinery, Gupta explained.
Heavy oil demand is not limited to Tanzania, for which the company will
export its products to other neighboring countries, such as Kenya, DRC,
Uganda, and Zambia.
Tanzania’s Permanent Secretary in the Ministry of Industry, Trade and
Investment, Dr Adelhelm Meru, said that the establishment of the
refinery is another step toward the country’s industrialization.
He added that the new factory proves the effectiveness of the combined
efforts of the Government and the private sector in achieving Tanzania’s
2025 vision.
Tanzania aims to become a semi-industrialized nation by 2025. For this,
the contribution of manufacturing to the national economy must reach a
minimum of 40% of the GDP, Tanzania’s 2025 vision indicates.
To achieve this, Tanzania aims to develop a broad and diverse base of
manufacturing, processing and packaging industries that will lead both
the productive as well as the export trade sector.
Foreign Direct Investments (FDIs) are expected to provide the capital
for the desired industrial development.
For this, Tanzania launched its Export Processing Zone Program in 2008.
Tanzania’s Export Processing Zones Authority (EPZA) promotes investments
in Tanzania’s Special Economic Zones (SEZs) and Export Processing Zones
(EPZs) by granting investors fiscal and non-fiscal incentives.
Kamal Group originated in India and expanded in Tanzania and Dubai. The
group is involved in Steel, Medical Gases, Agriculture, Mining and
Township Development.
Read more at: http://www.tanzaniainvest.com/energy/heavy-oil-refinery and follow us on www.twitter.com/tanzaniainvest
Read more at: http://www.tanzaniainvest.com/energy/heavy-oil-refinery and follow us on www.twitter.com/tanzaniainvest
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